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Depending on how you setup the source control specifically, it's nice for synching between multiple machines that you might use. I write hobby code on a variety of machines around the house, and the centralized SVN I use keeps all of them current.
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Erik DietrichJun 21 '12 at 18:55

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You'll be surprised at how many employers (at least the one's I've come across) who, when they google you're name to find your web presence (Social Media and such), they'll also look for examples of your personal code base. Having it all in one place (like GitHub, etc.) will make this process easier for them, and the easier it is...
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Jamie TaylorJun 22 '12 at 13:13

Bitbucket is an interesting option here -- unlike most of the other "cloud SCM" providers, they allow unlimited free private repositories. So you can get almost all the benefits of having your source "in the cloud" without having to share it with everybody else.

I was trying to think of what advantages having source control would engender, but that just made me realize I haven't done anything not using source control in the better part of a decade.

One use I find that hasn't been mentioned is simply looking at changes I've made in code over time, to get better ideas of practices, coding techniques, etc., that I probably should have avoided in the first place.

I also sometimes do some statistical analysis (well, really simple analysis) to get an idea of modules that (for example) have been modified a lot, and still have outstanding bug reports, feature requests, etc., to prioritize pieces that should probably be thrown out and rewritten from the ground up. Of course, you can't always do that, but it can give better ideas of places to look at, and think about anyway.

Another advantage of this is that you can code fearlessly on your own projects. Before I used source control my personal projects had extremely messy code because I was afraid that removing something would evaporate it forever.

I can now even delete whole sections of my code base to try alternate solutions to problems instead of having to copy it to a text file or creating weird duplicate projects.